38/48 Avenue Road, Bexleyheath DA7 4EG

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STATUS

For Sale

DESCRIPTION

Comprises a detached property arranged on ground and first floor levels. The ground floor offers shop/ office unit with private forecourt parking (48) plus a substantial ground floor office/ court premises again with the benefit of private forecourt car parking.  The first floor comprises six, self contained two bedroom flats. To the rear of the property there are private gardens and our client’s ownership includes the rear service road. Please note several adjacent owners, we are advised, have access rights over the rear service road.

 

LOCATION

Bexleyheath is a busy and popular suburb within the London Borough of Bexley in North Kent approximately 12 miles south-east of central London. The subject property is situated in a prominent position within an established parade. Bexleyheath mainline railway station is located approximately 175 yards away offering frequent commuter services to Central London. Access to the A2 trunk road is available at the Danson interchange providing main road links to Junction 2 of the M25 Motorway.

FLOOR AREA

TERMS

£2,700,000 (Two Million Seven Hundred Thousand Pounds) subject to the existing leases and ASTs.

48 Avenue Road  Let upon a lease for a term of 5 years from 2020 at a rental of £11,000 pax rising to £12,000 in 2023, £13,000 in 2024 and £13,500 in 2025. The lease is granted outside of the Landlord and Tenant Act 1954.

38-46 Avenue Road   Let on a lease to HM Courts and Tribunals until 31st March 2022 at a rental of only £25,500 per annum exclusive. The lease is granted outside of the provisions of The Landlord and Tenant Act 1954.

38a-48a Avenue Road   Comprise 6 x 2 bedroom flats let upon assured shorthold tenancies and  currently producing £84,000 pax.

Total Rental: £120,500pax